September 25, 2008

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While key congressional negotiators on the bailout begin to leak out details of the "fundamental agreement," Mitch McConnell has joined chorus of cautious Republicans.

McConnell, the Senate Minority Leader, is busy trying to sell the legislative package to the Republican side of the Senate, but says the legislative details still need to be hashed out.

"Members from all sides of the aisle continue to talk," McConnell said. "There was constructive progress among some members of the Banking Committee and we will review these and other ideas with the Congressional Leadership, the Secretary of the Treasury, the President and the two Presidential candidates.”

McConnell's statement is the latest among congressional Republicans who are worried that this "fundamental agreement" _ the words of Banking Chairman Christopher Dodd _ is moving too fast before all the details have been revealed.

When all is said and done, it appears that two former CEOs of Fannie Mae played lose with the books (one -- Franklin Raines was fired) to bolster their own bonuses. Think that the taxpayers are owed a chronology of what happened; a timeline of when it happened; who got paid what, and when; who had congressional oversight, and what did they do, or fail to do; who received campaign contributions and how much -- then look at their voting records -- both parties; and what charges will be brought against those who committed fraud, and sanctions against those in Congress who FAILED to take action to protect law abiding taxpayers. Fear that we are just beginning to see the beginning of hard times. Who will lend us money from overseas now?? Note the following: http://www.reuters.com/article/marketsNews/idUSPEK16693720080925

Since McCain suspended his campaign yesterday afternoon I've seen that he has done an evening news interview and given a speech. The one thing it doesn't seem that he has done is assist with the negotiations. Can anyone explain how this is different from a normal campaign day?

The House Republicans have been fighting against the bailout from the beginning. If McCain can bring them aboard, good. If McCain can bring them aboard while forcing "voted present" Obama to actually take a position and vote for or against the bailout instead of sitting on the sidelines issuing press releases, better.

There should be NO golden parachutes for the executives that destroyed Fannie Mae/FreddieMac. Every Democrat that is responsible should be prosecuted. Barney Frank, Chris Dodd, Gorelick, Raines, Johnson, Lehman, Obama, and anyone else who accepted money from these two firms should have to pay for bringing our economy to it's knees. The Democrats now 'own' the culture of corrpution and the culture of dead(abortion)and they deserve everything that is coming to them for this debacle because of their greed.

Yes, the deal is in the works and not done-despite what the media keeps saying. It was done first thing in the morning said some headlines.... now, they are still working on it, etc... blah blah blah. It's not done yet. That's why McCain went up to see if he can help and Sen Reid (i.e. Darth Vader) did call him to see if he could get those unruly Republicans in line. Interesting to see Reid change his position (oh my- more "change"!).
Interesting that Obama, who said this is the worst economic crisis since the Great Depression (er, no), sits to prepare for a debate and calls congress to give his opinion. Is there truly no limit to this man's power? Why even bother meeting with crazy dictatorial regimes around the world when he can merely pick up the phone and change things?

McCain has already had a great effect on getting the bailout moved forward. Democrats have been burning the midnight oil since McCain announced he would come to Washington in an effort to make sure they had a deal before he arrived. They even announced a deal when they had no actual deal in a very dishonest effort to make sure McCain got no credit. At least McCain lit a fire under their tushes and got them moving instead of talking.